2017-2018 AMS Final Budget Prepared by: Alim Lakhiyalov, VP Finance - PowerPoint PPT Presentation

SCD042-18 2017-2018 AMS Final Budget Prepared by: Alim Lakhiyalov, VP Finance

Expenditure WHERE DOES THE MONEY GO? Student Government Student Services Total: $919,143 Total: $395,411 $919,143 $848,236 Senior Student Services Contingency Total: $848,236 Total: $106,172 $395,411

3 Final Budget Projected Final Budget Surplus of Fiscal Year 2017-2018: $167,127 Total Revenues From Fees Non-discretionary Allocations ฀ ë $20,563,160 $18,586,844 Total Expenditures $2,268,964 Total Revenues ฀ ¬ $2,436,091

4 Expense Changes Line Item 17/18 Budgeted 16/17 Budgeted Why? VP AUA $125,456.5 $111,733.2 Work Stations, Research Budget & Staff Meal Plan VP Finance $116,422.3 $90,416.4 2 new positions moved to VP Finance Portfolio & Staff Meal Plan President $98,363.7 $84,353.9 Position move to portfolio & Staff Meal Plan Student Services $394,211.16 $384,576.97 eHub expansion, Tutoring, Safewalk

5 Large Expense Changes Line Item 17/18 16/17 Variance Why? Budgeted Budgeted Sexual Assault $281,948 $146,450 $135,498 Hospital Support Centre Accompaniments AMS Events $290,643 $371,175 - $80,532 Welcome Back BBQ + First Week Cost Cuts + Revenues Welcome Back BBQ $8,065 $143,468 - $135,403 Taking into account our revenue projected to generate at 85% sell out

6 Large Expense Changes Line Item 17/18 16/17 Variance Why? Budgeted Budgeted Farmade $16,000 $ (605) $16605 Plan to move Farmade to nest – accommodate for the location change and be conservative with revenues. Ombudsperson $11,166 $7,884.5 $3,281.5 Was not budgeted for in the preliminary Budget – increase comes from accurate Salary

7 Revenue Changes DECREASED BUSINESS REVENUE BY $116,000 PRELIMINARY BUSINESS REVENUE: $766,432 1 Fairly high, because of our +$1,000,000 from business contribution for Fiscal Year 2016/2017 DECREASE BUSINESS REVENUE BY: $116,000 2 Reduce it by $116,000 to account for competition – more restaurants built around the nest. FINAL BUSINESS REVENUE ESTIMATE: $650,432 3 More conservative value, will allow us to account for any reduced revenues. GRADUATING CLASS REVENUES: $51,000 4 Initially in the Preliminary budget, Graduating Class revenue was not accounted for in the Non-Discretionary Allocation – which in return contributed to Net Income which is not the case.

8 FINANCE COMMITTEE SAYS Thank you